Edward Moncada on Blockfolio's growth to 6 million downloads

0:23blog folio and how does it make it easier to track your digital assets blog folio is a say we're the number one portfolio tracking app mobile portfolio tracking onto the cryptocurrency space so we're basically we build this product that's very easy for you to you know in Hawaii token positions or your crypto investments might be you know across any number of exchanges and be able to

0:55instantly get price information and they're kind of within the app you know sort of spits out like the simplified puts all your portfolio balances and how many different ones you hold nobody how many different exchanges you know put the currencies on great and do you guys have integrations and ap is that make it easier than having to type in decimals of specific crypto currencies

1:18that you have because I know it can get very tedious yeah we do so yeah we launched we launched that feature a while back we have you know the ability to can you know basically through API API keys you can auto sync your portfolio you know we support like most of the major exchanges no you don't then they believe the trades anymore mm-hm and block folio now has 5 million

1:43downloads so congratulations to that's amazing what would you say has been the key to keeping your team organized and scaled during these times of growth that's where actually close to 6 million now people don't know yet even better yeah we pick up I don't know anywhere from two thousand five thousand organic downloads every day you know it's all been word-of-mouth organic

2:07growth there are a few reasons you know for that and then when we were first more here we were in the first products that was tracking all cryptocurrencies across all exchanges they give you an idea of like how wide we went you know we're directly connected pulling price feeds from over 300 exchanges and we support well over 8,000 cryptocurrencies wow that's great

2:30and well one of the reasons that a lot of people I think first heard of black folio was during the 2017 bull run there was a lot of memes about people not being able to stop checking their block folio trackers because the prices were going up so quickly you know do you honestly think that the memes have played a role in the growth and the adoption of black folio yeah I think it

2:57actually it actually has like our social media like this referencing block fully on social media is driven a lot of traffic to us you know whether it's like if there's you know a number of hilarious memes that are coming out in 2017 2018 or you know I think I think we were sort of the right product at the right time you know and captured sort of like a little bit of a zeitgeist even

3:22the name block folio you know when somebody hears it if they know to even just a small amount of clout crypto you know the name block folio they instantly know what their app does right so yeah definitely and we know with all these downloads a lot of people probably downloaded it during the 2017-2018 bull run at the same time a lot of people lose interest in cryptocurrency when it

3:46starts going down so could you talk a little bit about how important it is for the act active monthly users metrics and how do you grow your base and do you measure your KPIs based on active users so yeah I think this kind of goes back to just being a believer in crypto right because this entire industry has gone through these like boom and bust

4:10cycles multiple times now right and you know in 2015 when we launched block folio we saw a number of like well funded startups either shut down right and then and a lot of it is because you know someone should be interest in the crypto space whether it's you know investment capital where users whatever it might be is really driven by the price right and you

4:36know when things are luring and big ones near $20,000 everybody's investing buying crypto people are investing in startups and then we go through these two or three-year long stretches where you know these sort of Larry you know devastating bear cycles I would say and for portfolio like we've always been fairly you know conservative of other fiscal management also another another

5:00kind of component to it is during you know during the bear cycles you don't really get much viral growth there's not a high viral coefficient you know obviously people share blog folio a lot when they're making ten percent over two weeks you know there's announcements a group in the bear market look like we've tried to kind of look at it differently we try

5:21to you know align ourselves well with other strong brands and the ecosystem try to do partnerships kind of really cement our brand you know and do a lot of you know the busy work in building in anticipation of needs that we anticipate in anticipation for the needs that we see coming you know in the next big bull cycle so as far as a kpi's go you know

5:43just to be totally transparent from 2018 – probably q4 of 2019 you know we just had a steady decline in daily active users and monthly active users but this is probably not much different than you know any major exchange in the crypto ecosystem or any other you know really widely used product yeah definitely and just as it's easy to make money in crypto during the bull run when

6:08everything's going up it is easy to grow your company and in those Baer cycles when the you know the real hard-working companies put their heads down and focus on you know making it to the next cycle and being the top in their industry when that next bull cycle hits I think that's what really differentiates and one of the ways that block folio has differentiated is with this block folio

6:33signal function can you talk a little bit about signal and how it adds value to the tracking yeah so you know obviously price tracking is sort of like our bread and butter where people come to the app for you know but just tracking prices and isn't the only consideration when making investments and then we realized there was a lot of misinformation in the crypto ecosystem

6:56there's a lot of people scamming people over telegram groups or slack Channel and we saw a need for a direct line of communication that was coming from token team leadership and so we decided to build this sort of updating feed where token teams can broadcast the latest updates in developments of you know that are happened in the protocols and you know our users can get information that

7:22they trust directly you know verifiable from the source and we thought it was just a win for the entire ecosystem is available ya know it's it's actually a really great feature and to get updates directly from them and trust that you know it's real it's verified block by block folio is great because there's definitely a lot of impersonating Twitter accounts and

7:43impersonating slack groups and all of these you always have to be cautious so thank you for doing that and you know on the top of the block folio website it mentions you know this is a hundred percent free application anybody can go download it right now and that's part of the reason why you've had such great viral growth but I guess my question for

8:03the investors that are watching is you know is there a revenue generation model if the users aren't paying how are you generating money and creating a sustainable company so yeah so people don't realize that we actually do generate a decent mana revenue portfolio and to give you a little bit of insight into it you know on a monthly basis and q1 of this year they did well over a

8:27hundred million page inversions and block folio per month right we actually are you know if you look at total aggregate of page impressions we actually topped Quinn market cap and I think every month this quarter Benji won right Wow and something a lot of people don't realize and I said last year we started kind of working with Tobin projects and trying to figure out

8:48finding ways to offer them digital marketing or ways for them to kind of get visibility and in front of block folio users we've come up with a number of different campaigns some of them aren't really available to us customer so you might not have seen them but for instance you know Solana recently did a coin list reverse touch option and we made this sort of

9:12countdown clock available into something like 400,000 portfolios internationally you know we excluded to a geofence out the US and that would be an example of like a digital marketing like a you know visibility campaign the way we ran on the platform we all said you know we have a couple other different ones but I would say you might have also seen banner ads showing up on the chart pages

9:36we had a lot of sort of we piloted that program on inaugural campaign marketing campaign with banner hats was back in November when we hope maker down push the launch of the multi collateral die right so we're you know we're just kind of starting to explore more and more you know how we want to put ads and bring visibility to quality projects

10:02and ecosystem and put them in front of our users you know something I'm very kind of particular about I'd like to think of us less like a billboard and more like a very prestigious music venue that has this amazing audience and you have like these great acts on the one foot in front of them yeah so we're always kind of keeping our eyes up for you know great projects in the ecosystem

10:23and trying to see we can find ways to support them that's great to know and that's very impressive to know that you know your own par and even above coin market cap and you know coin market cap was recently bought by finance for 400 million somewhere around there and because of their user base in the amount of impressions that they're getting you know it's become one of the most popular

10:45sites did you foresee do you foresee in the future something similar may be happening where finance or another large conglomerate may approach blog folio to buy it to be honest we got approached both at once every six or eight months like it happens pretty frequently yeah right and I think you know there might be a time in the future whoa and treating selling the company but

11:09I think I just think would have liked a great product and a lot of room to grow you know I mean and like I say this I see this as like a very responsible gatekeepers to this ecosystem where you know people don't realize like Trust is something that's really important and it's something that you know we were fortunate that it was always like a priority of black folio definitely and

11:35you're right there's so there is a long way to go and we are very early in the scope of the entire career but currency industry so I guess looking forward I'd love to know is there any development roadmap features and functions that users can be looking forward to yeah well let me ask you a question what do you think is the most logical thing that we do from what way if you

12:00had a guess just a I'm hot that's a tough question I you know it already has great functions with the notifications the push notifications coming in and the portfolio trackers but I'm not sure exactly how you could get more people on besides adding more functions making more partnership somehow yeah you know we were always looking you know for things to do I think let's just put

12:27it this way I wouldn't be surprised if in the future you see a black folio branded exchanged them very interesting yeah and I was thinking that you know coin market cap all these other news sites and aggregators have the buy bitcoin button by aetherium button usually using referrals to gain more traction but you know expanding beyond there I could definitely foresee people

12:53are already looking at their prices there why go to the exchange to trade a coin when you're already on blog folio so that's very interesting it's gonna continue to build up the suite of services to keep people in there happen and you know keep them happy in there and provide them you know best pricing information you know the best financial information direct news updates from

13:16token projects and then maybe something very exciting Edward well if is there a black folio community that people can reach out join or follow along with these development roadmaps for when they come out yeah so we have just like a general telegram community you know you can access it through the black folio app and you know in the sort of the what's it called the kind of near

13:48the settings you have like you know the ability together there are different social media channels or you know you can access it through WWE folio calm and you know towards the bottom of HS ways to find it or telegram community they're awesome well I'll leave the links to the blog folio app and the communities in the description box below for the viewers and that's all the time

14:10that we have for the interview but I really appreciate you coming on and I'm looking forward to seeing the future of blog folios growth because I know that there are great times ahead and I'm wishing you all the best with that and let's follow up in the near future Edward founders you